IHS Markit and Informa exchange business units

May 22, 2019 — Fusion DigiNet

IHS MarkitFinancial data company IHS Markit and Informa, the international exhibitions, events, information services and scholarly research group, have exchanged the majority of the IHS Markit Technology, Media and Telecoms intelligence business for Informa’s Agribusiness Intelligence Informa plcgroup.

The agreement values the two exchanged businesses at equivalent EBITDA multiples, with Informa contributing an additional $30 million cash to IHS Markit to reflect the larger EBITDA contribution from the TMT business. IHS Markit will retain RootMetrics, its benchmarking business and a portion of its market intelligence business. Both transactions are expected to close in July 2019 and are subject to customary closing conditions, including US regulatory approval.

IHS Markit confirmed that the transaction will not affect its capital allocation strategy to delever its debt ratio below 3.0x and complete USD 500 million in share repurchases in 2019.

Lance Uggla, CEO of IHS Markit said, “The Informa Agribusiness Intelligence portfolio is a clear extension of our Chemical and Downstream businesses and builds our existing data, pricing, insights, forecasting and news services within our Resources segment. Agriculture is the largest end chemical market in the world and this transaction expands our capabilities into fertilizers and chemical crop protection, while substantively expanding our capabilities in biofuels.”

UK, London

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Acuris acquires Blackpeak

March 29, 2019 — Fusion DigiNet

AcurisAcuris, a BC Partners and GIC-backed provider of financial data, intelligence, research and analysis, has acquired Blackpeak, an investigative research firm. Blackpeak will join Acuris’ Compliance division. The terms of the deal were not disclosed.

Co-founded by Jack Clode and Chris Leahy in 2011, Blackpeak is a premier provider of complex due diligence, research and investigation services, particularly in relation to capital markets, M&A and private equity.

Headquartered in Hong Kong, Blackpeak now operates from key financial and economic centers, including Singapore, Tokyo, Shanghai, Beijing, New York and Washington DC.

Hamilton Matthews

Hamilton Matthews CEO, Acuris

“We are delighted to welcome Jack, Chris and the Blackpeak team to the growing Acuris family. With its expert capabilities as a premium Enhanced Due Diligence services provider and impressive customer portfolio of global blue-chip customers, Blackpeak will enhance our Compliance division’s proposition considerably,” says Hamilton Matthews, CEO of Acuris. “We look forward to working together to support Blackpeak’s growth ambitions and meet the evolving demands of our customers.”

UK, London & Hong Kong

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Vitesse Media to buy InvestmentNews for $27.1M

July 31, 2018 — Fusion DigiNet

Vitesse Media plcDigital media and events company Vitesse Media is to acquire InvestmentNews, a leading source of news, analysis and information to the financial advisory community from its parent, Crain Communications Inc., for approximately $27.1 million. The deal is expected to close mid-August.

As part of the deal, InvestmentNews’ leadership team will remain intact — as will its award-winning editorial, multimedia, audience, custom, research & data, marketing, sales and event divisions.

Crain launched InvestmentNews in 1997 as a weekly magazine covering the U.S. financial advice profession. InvestmentNews has since expanded its engagement with its core audience through the launch of an award-winning website, live events and research and data offerings. Today, InvestmentNews is the No. 1 media brand in the financial advice market, with more than 150,000 weekly print readers. InvestmentNews.com garners an average of 545,000 unique visitors each month. In addition, InvestmentNews operates a growing events business, which includes the Retirement Income Summit, Woman Adviser Summit and Best Practices Workshop. It is also produces editorial and custom research relevant to advisers and the businesses that serve them.

Simon Stilwell, who was appointed CEO of Vitesse in August 2017, said, “InvestmentNews is the leading brand in its community, it fits well into the Vitesse stable and provides the company with the opportunity to pursue other bolt on opportunities to expand, especially in its events and data business. Its American presence further allows us to expand our reach geographically, a key aspect of our future strategy.”

Upon completion of the deal, Vitesse will change its name to Bonhill Group plc, subject to shareholders’ approval.

UK, London & USA, New York, NY

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Phoenix invests in Capital Economics

March 27, 2018 — Fusion DigiNet

Phoenix Equity PartnersPrivate equity firm Phoenix Equity Partners has acquired a controlling stake in independent research company Capital Economics. Phoenix’s investment, which values the business at circa £95m, will be made alongside the existing management team and shareholders. Roger Bootle will retain a significant stake in the business.

Capital Economics is one of the leading independent macro-economic research companies in the world. Their team of more than 60 experienced economists provide award-winning macro-economic, financial markets and sectoral analysis, forecasts and consultancy from offices in London, New York, Toronto, Singapore and Sydney. The business provides research subscriptions, data and events to approximately 1,500 global institutions.

Capital Economics’ existing backer LDC, the private equity arm of Lloyds Banking Group, will exit its minority stake. Since their investment in October 2014, the business has grown revenues by 30% to over £22.5m in its latest financial year, launched several new services and opened new offices in New York and Sydney. It has expanded the team by 30% to over 140 employees across its five locations.

The investment by Phoenix will allow Capital Economics to continue to accelerate its growth. Phoenix’s support will enable investments in new services and in technology to enhance and personalise client delivery. A number of potential acquisitions have also been identified.

Chris Neale, Partner at Phoenix, said: ‘Capital Economics is an exceptional business with outstanding economists and staff, and an unrivalled reputation for macro-economic insight. It has grown every year since inception, building up a global base of loyal repeat clients. Demand for high quality, independent research continues to increase and we are excited about the future potential of the business. We look forward to working with Bob and the team to help accelerate growth over the coming years.’

UK, London

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